Victory Capital Management Inc. Sells 798,312 Shares of D.R. Horton, Inc. $DHI

Key Points

• Victory Capital Management cut its stake in D.R. Horton by 64.1% in the third quarter, selling 798,312 shares and now holding 446,683 shares valued at about $75.7 million.
• D.R. Horton slightly beat expectations for the quarter with $2.03 EPS (vs. $1.98) and $6.89 billion in revenue (vs. $6.66 billion), though revenue was down 9.5% year‑over‑year.
• The company declared a quarterly dividend of $0.45 (annualized $1.80, ~1.2% yield), and analysts have a consensus "Hold" rating with a $159.93 target price.

Victory Capital Management Inc. cut its holdings in shares of D.R. Horton, Inc. (NYSE:DHI - Free Report) by 64.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 446,683 shares of the construction company's stock after selling 798,312 shares during the period. Victory Capital Management Inc. owned 0.15% of D.R. Horton worth $75,699,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. State Street Corp increased its holdings in shares of D.R. Horton by 0.7% in the 2nd quarter. State Street Corp now owns 12,636,264 shares of the construction company's stock valued at $1,629,067,000 after acquiring an additional 92,219 shares during the period. Norges Bank purchased a new position in D.R. Horton in the second quarter valued at about $494,278,000. Franklin Resources Inc. grew its stake in D.R. Horton by 16.4% in the second quarter. Franklin Resources Inc. now owns 3,200,176 shares of the construction company's stock valued at $412,567,000 after purchasing an additional 450,362 shares during the last quarter. Invesco Ltd. lifted its position in shares of D.R. Horton by 13.2% during the second quarter. Invesco Ltd. now owns 2,854,268 shares of the construction company's stock valued at $367,972,000 after buying an additional 333,846 shares during the last quarter. Finally, Viking Global Investors LP boosted its holdings in shares of D.R. Horton by 108.3% in the 2nd quarter. Viking Global Investors LP now owns 2,827,032 shares of the construction company's stock valued at $364,461,000 after buying an additional 1,469,978 shares in the last quarter. Institutional investors own 90.63% of the company's stock.

Insiders Place Their Bets

In other D.R. Horton news, SVP Aron M. Odom sold 260 shares of D.R. Horton stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $167.55, for a total transaction of $43,563.00. Following the completion of the transaction, the senior vice president owned 6,457 shares in the company, valued at approximately $1,081,870.35. This trade represents a 3.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.66% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Barclays reduced their price objective on shares of D.R. Horton from $132.00 to $129.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 21st. Bank of America set a $158.00 price objective on D.R. Horton in a report on Wednesday, January 21st. Keefe, Bruyette & Woods restated a "reduce" rating on shares of D.R. Horton in a research note on Tuesday, January 27th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $195.00 target price on shares of D.R. Horton in a research report on Tuesday, January 13th. Finally, BTIG Research set a $182.00 price target on D.R. Horton in a report on Wednesday, January 21st. Four investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $159.93.

D.R. Horton Stock Down 1.8%

Shares of DHI stock opened at $149.96 on Friday. D.R. Horton, Inc. has a fifty-two week low of $110.44 and a fifty-two week high of $184.54. The firm has a market capitalization of $43.44 billion, a PE ratio of 13.62, a P/E/G ratio of 2.36 and a beta of 1.43. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.98 and a current ratio of 6.63. The stock's 50-day simple moving average is $155.09 and its 200-day simple moving average is $157.49.

D.R. Horton (NYSE:DHI - Get Free Report) last issued its earnings results on Tuesday, January 20th. The construction company reported $2.03 EPS for the quarter, beating analysts' consensus estimates of $1.98 by $0.05. D.R. Horton had a return on equity of 13.51% and a net margin of 9.95%.The firm had revenue of $6.89 billion for the quarter, compared to analyst estimates of $6.66 billion. During the same quarter in the prior year, the firm earned $2.61 earnings per share. D.R. Horton's revenue for the quarter was down 9.5% on a year-over-year basis. Equities analysts expect that D.R. Horton, Inc. will post 13.04 earnings per share for the current year.

D.R. Horton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 12th. Shareholders of record on Thursday, February 5th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Thursday, February 5th. D.R. Horton's dividend payout ratio is presently 16.35%.

D.R. Horton Profile

D.R. Horton, Inc is a national homebuilding company that designs, constructs and sells new residential properties across the United States. The company's core operations focus on building single-family detached homes, townhomes and condominiums for a range of buyer segments. In addition to home construction and sales, D.R. Horton provides complementary services through subsidiaries that support the mortgage, title and closing processes for its customers, enabling integrated transaction workflows from inventory development to home delivery.

Founded in 1978 by Donald R.

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